VEDLIoT is a project that aims to develop a framework for the next generation internet of things (IoT) based on IoT devices that collaboratively solve complex deep learning applications across distributed systems. The project will improve the performance and cost ratio of AI processing by distributing hardware across the entire chain from embedded devices to the cloud. It will also increase the safety, health and well-being of users through accelerating AI methods for user-home interaction. The project will develop a cognitive IoT platform, deep learning toolchain, and DL accelerators to enable this vision over its three year timeline starting in November 2020.